Global Aerospace Robotics Market Comprehensive Study: Forecasted Market Size And Growth Rate

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2055

The Business Research Company offers in-depth market insights through Aerospace Robotics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The aerospace robotics market size has grown rapidly in recent years. It will grow from $4.07 billion in 2023 to $4.64 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to global economic growth, increase in commercial air traffic, rise in automation, rise in demand for product customization, labor shortages.

The aerospace robotics market size is expected to see rapid growth in the next few years. It will grow to $7.52 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to increasing use of unmanned aerial vehicles (uavs), growing demand for space exploration, increasing investments in research and development, shorter production cycles, . Major trends in the forecast period include integration of ai and machine learning, swarm robotics, human-robot collaboration, exoskeletons and wearable robotics, collaborations and partnerships.

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Market Segmentation:
The main types of aerospace robotics include articulated, cartesian, and other types. Articulated robots are equipped with two or more rotary joints, support circular movements, and are used in the aircraft manufacturing process. The different applications of aerospace robotics are drilling, welding, painting, inspection, and others. The different aerospace robotics components include controllers, sensors, drive, arm processor, and end effector with technologies including conventional and collaborative and aerospace robotics payloads including small-medium payload robots, large payload robots, and extra-large payload robots.

Major Driver - Rising Commercial Air Traffic Driving Growth In The Aerospace Robotics Market
The increase in commercial air traffic is expected to drive the aerospace robotics market during the forecast period. Aerospace robotics offer high precision and performance in the construction of aircraft engines, drilling and painting airframes, precise fiber cutting and placement. The growing middle-class population and the emergence of low-cost airlines offering competitive prices in developing economies is expected to contribute to airline activity, thus increasing demand for aircrafts during the period. For instance, according to Boeing's 2020-2039 commercial market outlook, India's domestic air passenger market is expected to double its size by 2030, from the pre-pandemic levels, creating demand for an additional 2,200 new commercial aircrafts in the next 20 years in India, thus driving the growth of the aerospace robotics market during the period.

Competitive Landscape:
Major companies operating in the aerospace robotics market include KUKA Aktiengesellschaft, ABB Group, FANUC Corporation, Yaskawa Electric Corporation, Kawasaki Heavy Industries Ltd., Apex Automation and Robotics, Nachi-Fujikoshi Corp., Stäubli International AG, Omron Adept Technologies Inc., Mitsubishi Electric Corporation, JH Robotics Inc., M Torres Olvega Industrial S.A., Comau S.p.A., MTM Robotics LLC, Honeybee Robotics Ltd., Oliver Crispin Robotics Ltd., Güdel Group AG, Electroimpact Inc., Astrobotic Technology Inc., Maxar Technologies Inc., Motiv Space Systems Inc., Northrop Grumman Corporation, Altius Space Machines Inc., Made In Space Inc., Aethon Inc., Blue River Technology Inc., subsidiary of Hyundai Motor Group, Clearpath Robotics Inc., Fetch Robotics Inc., GreyOrange Pte. Ltd.

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Top Trend - Technological Advancements In Aerospace Robotics
Companies in the aerospace robotics market are focusing on technological advancement to accelerate and develop robotics and process technologies for the next generation of energy-efficient aircrafts. The aerospace industry rapidly adopts novel technologies such as the integration of robotics with 3D visualization, Internet of Things (IoT), artificial intelligence (AI), and cloud computing solutions to enhance the performance and productivity of predefined operations in the aerospace sector. In addition, robotic technology complements human-robot collaboration and reduces the turnaround time of the manufacturing process. For instance, in February 2021, Ai Build, a UK-based AI robotic 3D printing developer raised $1 million to scale its AI-based robotic technology to global aerospace and automotive sectors and speed up the large-scale 3D printing across these sectors. Through robotic systems with cloud-based software AiSync, it enables a large-scale 3D printing in aerospace and automotive sectors.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aerospace Robotics Market Characteristics
3. Aerospace Robotics Market Trends And Strategies
4. Aerospace Robotics Market - Macro Economic Scenario
5. Aerospace Robotics Market Size And Growth
…..
27. Aerospace Robotics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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